Karla Murtaugh’s Market Minute
An unseasonably warm November has seen the Ridgefield Real Estate market remain active. The median price of a single-family home in 2017 is pretty much on par with the same time period last year, checking in $640,000. The number of unit sales is actually up with 23 properties selling in November 2017, as compared to 21 in 2016, and 347 compared to 325 year-to-date. The number of properties that went under contract this month was greater than in 2016 by 64%, representing a 16-property increase.
The under $700,000 market is still very busy, and we have seen steady sales in all other price categories, which is encouraging. The luxury market still continues to struggle slightly with a decreased number of homes over $1 million selling this year as compared to last.
See the chart (image #2) for a full breakdown of November’s sales by price, and visit our blog on KarlaMurtaugh.com for a complete snapshot of the market.